RentE Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10479888 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2019

for

RentE Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Cropper

R Jolly

D O'Meachair

REGISTERED OFFICE:

Fordrough

Hay Mills

Birmingham

B25 8DW

REGISTERED NUMBER:

10479888 (England and Wales)

FIXED ASSETS

Tangible assets

4

5,494,685

234,235

CURRENT ASSETS

Debtors

5

1,022,657

48,438

Cash at bank and in hand

162,054

117,208

1,184,711

165,646

CREDITORS

Amounts falling due within one year

6

(2,432,505

)

(181,863

)

NET CURRENT LIABILITIES

(1,247,794

)

(16,217

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,246,891

218,018

CREDITORS

Amounts falling due after more than one year

7

(3,442,333

)

(176,465

)

NET ASSETS

804,558

41,553

CAPITAL AND RESERVES

Called up share capital

3

2

Share premium

2,417,499

317,499

Retained earnings

(1,612,944

)

(275,948

)

804,558

41,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 November 2019 and were signed on its behalf by:

R Jolly - Director

1.	STATUTORY INFORMATION

RentE Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on cost and 20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2018

238,887

Additions

5,774,203

Disposals

(45,000

)

At 31 August 2019

5,968,090

DEPRECIATION

At 1 September 2018

4,652

Charge for year

469,499

Eliminated on disposal

(746

)

At 31 August 2019

473,405

NET BOOK VALUE

At 31 August 2019

5,494,685

At 31 August 2018

234,235

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Other debtors

1,022,657

48,438

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Bank loans and overdrafts

25

309

Hire purchase contracts

1,904,519

85,022

Trade creditors

144,875

19,405

Taxation and social security

83,615

4,360

Other creditors

299,471

72,767

2,432,505

181,863

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.19

31.8.18

£

£

Hire purchase contracts

3,385,696

-

Other creditors

56,637

176,465

3,442,333

176,465

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.19

31.8.18

£

£

Hire purchase contracts

5,290,215

85,022

The hire purchase debt is secured over the assets purchased.